Task 3-7 (Refer to Chapter 11 Accounting Principles Book One to complete tasks 3-7) Note: You must read and understand the steps in the bank reconciliation process in chapter 11.5 to complete Tasks 3 & 4. Here is the following information given for Amazon Traders account. The reconciliation on June 30 showed that the Bank Ledger Account had a credit balance (overdraft/owing) of $3,182.90. The Bank Statement had reconciled to the Bank Ledger Account after allowing for: An outstanding deposit $733.10 and Unpresented cheque #324856 for $934.02 July Cash Receipt and Payments: Extract Cash Receipts Book of Amazon Traders Extract Cash Payments Book of Amazon Traders 02/07 $ 1,446.52 01/07 #324875 $ 1,526.16 07/07 3,486.72 04/07 #324876 905.70 11/07 1,538.90 08/07 #324877 2,404.38 11/07 436.84 12/07 #324878 1,702.86 12/07 2,360.20 15/07 #324879 1,296.98 21/07 1,039.30 20/07 #324880 561.40 30/07 846.76 28/07 #324881 1,958.30 BMS Bank Statement for the month of July The BMS Bank Bank Statement for Amazon Traders Date Particulars Debit Credit Balance Brought forward $ 2,981.98 Dr 01/07 Cheque #324875 $ 1,526.16 4,508.14 Dr Cash/cheques deposit $ 733.10 3,775.04 Dr 02/07 Cash/cheques deposit 1,446.52 2,328.52 Dr 05/07 Cheque #324856 934.02 3,262.54 Dr 07/07 Cash/cheques deposit 3,486.72 224.18 Cr 11/07 Cash/cheques deposit 1,538.90 1,763.08 Cr 12/07 Cheque #324877 2,404.38 641.30 Dr Cash/cheques deposit 436.84 204.46 Dr 15/07 Cheque book fee 50.00 254.46 Dr 17/07 Cheque #324879 1,296.98 1,551.44 Dr 18/07 Cash/cheques deposit 2,360.20 808.76 Cr 21/07 Cheque #324878 1,702.86 894.10 Dr 24/07 L. Mami cheque dishonour 551.56 1,445.66 Dr Dishonour fee 15.00 1,460.66 Dr 25/07 Cheque # 324876 905.70 2,366.36 Dr 26/07 Cash/cheques deposit 1,039.30 1,327.06 Dr 31/07 Cheque #324880 561.40 1,888.46 Dr Task 3 Amazon Traders Policies & Procedures: Entering Cash Receipts & Payments All supporting documentation is to be checked for accuracy prior to entering the system Supporting documentation must be authorised by Sam Smith the owner Please make sure you have checked each amount of cash receipts and payments according to the bank statement provided All total amount of Cash Receipts, Payments and the bank ledger balance need to calculate correctly before proceeding to the next task. From the above information you need to prepare: Cash Balance Summary (Cash Receipts and Cash Payments) and Bank Ledger Account for Amazon Traders as of 31 July. Answer: Cash Receipts Cash Payments Date Details Amount $ Date Details Amount $ Total Total Bank Ledger Account July (you must specify if Balance is DR or CR) Bank 100 Date Details Debit Credit Balance 1/7 Balance b/d 31/7 Receipts 31/7 Payments Write the Bank Balance amount: $_________